Los Angeles Capital Management & Equity Research Inc. Reduces Position in Lamb Weston Holdings Inc. (LW)
Los Angeles Capital Management & Equity Research Inc. lowered its holdings in shares of Lamb Weston Holdings Inc. (NYSE:LW) by 42.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,839 shares of the specialty retailer’s stock after selling 80,393 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.08% of Lamb Weston Holdings worth $4,837,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. First Mercantile Trust Co. bought a new stake in Lamb Weston Holdings during the second quarter worth about $137,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in Lamb Weston Holdings by 165.9% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,366 shares of the specialty retailer’s stock worth $142,000 after acquiring an additional 2,100 shares in the last quarter. IndexIQ Advisors LLC bought a new stake in Lamb Weston Holdings during the second quarter worth about $149,000. Transamerica Financial Advisors Inc. boosted its stake in Lamb Weston Holdings by 0.7% during the first quarter. Transamerica Financial Advisors Inc. now owns 3,845 shares of the specialty retailer’s stock worth $162,000 after acquiring an additional 26 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Lamb Weston Holdings during the first quarter worth about $170,000. 79.78% of the stock is currently owned by institutional investors and hedge funds.
LW has been the topic of several research reports. Zacks Investment Research lowered shares of Lamb Weston Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, May 24th. Morgan Stanley reissued an “equal weight” rating and set a $46.00 price objective (up previously from $45.00) on shares of Lamb Weston Holdings in a research note on Wednesday, July 26th. Bank of America Corporation boosted their price objective on shares of Lamb Weston Holdings from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, July 10th. Stifel Nicolaus lowered shares of Lamb Weston Holdings from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $42.00 to $44.00 in a research note on Tuesday, July 4th. Finally, CL King initiated coverage on shares of Lamb Weston Holdings in a research note on Tuesday, May 23rd. They set a “strong-buy” rating and a $55.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $46.22.
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Lamb Weston Holdings Inc. (NYSE:LW) opened at 46.00 on Wednesday. The company has a market cap of $6.72 billion and a P/E ratio of 20.72. Lamb Weston Holdings Inc. has a 52 week low of $29.62 and a 52 week high of $49.94. The stock has a 50 day moving average of $44.79 and a 200 day moving average of $43.67.
Lamb Weston Holdings (NYSE:LW) last released its quarterly earnings results on Tuesday, July 25th. The specialty retailer reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $833.00 million during the quarter, compared to the consensus estimate of $810.85 million. During the same quarter in the prior year, the business posted $0.29 earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts expect that Lamb Weston Holdings Inc. will post $2.30 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 4th were issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Wednesday, August 2nd.
About Lamb Weston Holdings
Lamb Weston Holdings, Inc (Lamb Weston), is a supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers around the world. The Company’s segments include Global, Foodservice, Retail and Other. The Global segment includes operations associated with Lamb Weston’s business with large chain restaurant customers, whether those results are generated in the United States or abroad, as well as operations associated with retail and foodservice customers located outside of the United States and Canada.
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